Cree posts a mixed earnings report. Net income improves for the quarter, but is way below last year’s levels. Revenues are essentially flat, and future revenue estimates are in line with analyst expectations. CREE moves up 10% in two days, but is still down 50% for the year. We consider the stock to be Undervalued.

SemiLEDs Corp issues a positive earnings report, with revenues up and net losses shrinking for the quarter. LEDS jumps 21% in two days on large volume, though the stock is still down 10% for the year and remains way below 2010 levels.

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